Under Armour: Quarterly Earnings Snapshot

Under Armour: Quarterly Earnings Snapshot

Under Armour: Quarterly Earnings SnapshotByThe Associated PressMay 6, 2022, 3:47 PM• 2 min readBALTIMORE — Under Armour Inc. on Friday reported a loss of $59.6 million in the first three months of the year.On a per-share basis, the Baltimore company had a loss of 13 cents for the quarter ended March 31. Losses, adjusted for…

Under Armour: Quarterly Earnings Snapshot

May 6, 2022, 3: 47 PM

2 min read

BALTIMORE — Under Armour Inc. on Friday reported a loss of $59.6 million in the first three months of the year.

On a per-share basis, the Baltimore company had a loss of 13 cents for the quarter ended March 31. Losses, adjusted for restructuring costs, came to 1 cent per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The sports apparel company posted revenue of $1.3 billion in the transition period, also missing Street forecasts. Ten analysts surveyed by Zacks expected $1.33 billion.

As announced in February 2021, Under Armour changed its fiscal year from December 31 to March 31. Following a three-month transition period (January 1 – March 31, 2022), Under Armour’s fiscal year 2023 will run from April 1, 2022, through March 31, 2023. As a result, there will be no fiscal year 2022.

Under Armour expects full-year 2023 earnings in the range of 63 cents to 68 cents per share.

—————

Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UAA at https://www.zacks.com/ap/UAA

———

This story has been corrected to show that the latest period was “transitional,” not the fourth quarter.


ABC News


With Ukraine’s ports blocked, trains in Europe haul grain Previous post With Ukraine’s ports blocked, trains in Europe haul grain
US added 428,000 jobs in April despite surging inflation Next post US added 428,000 jobs in April despite surging inflation

Leave a Reply

Your email address will not be published.